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Explain why it is important for the patients and the health of the organization to correctly use and apply insurance, including verification of benefits.

Kyosha Valley is opening a new facility and has many new employees throughout the organization. You have been tasked with creating a presentation on the following material for the new employees.

Instructions

Step 1: Write an essay of 500–700 words by addressing the following questions:

  • Explain at least 2 different kinds of health plans.
  • Choose 3 kinds of payments that may be rendered for services
    • Explain why it is important for the patients and the health of the organization to correctly use and apply insurance, including verification of benefits.
    • Explain why coding properly is important to your organization and the patient.
    • Explain what is found in CPT coding, ICD coding, and in the HCPCS.
    • Explain what an Explanation of Benefits (EOB) is.
    • Explain to the new employees of Kyosha Valley at least 2 other important insurance terms, such as the birthday rule, assignment of benefits, clean claims, coordination of benefits, balanced billing, and so on.

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